Research and Development (R&D) tax credits are a government incentive designed to reward UK companies for investing in innovation. Research & Development tax credits are a valuable source of income for many companies that wish to develop their business. R&D tax credits can also be a used as an investment into further research and development for your company.
According to HMRC, “Research and development takes place when a project seeks to achieve an advance in science or technology through the resolution of scientific or technological uncertainty.”
Companies that invest money into developing new products, services and processes or enhancing existing ones, are eligible for benefits such as a cash payment, reduction of corporation tax or increase in taxable losses.
Would you like to know if your business qualifies?
Find out if you qualify for R&D tax credits with the eligibility checker.